Grant of Awards under Deferred Bonus Share Plan
James Cropper plc has granted nil-cost options under its Deferred Bonus Share Plan 2023 to three Persons Discharging Managerial Responsibilities (PDMRs) on 2 September 2026. The Chief Executive Officer, David Stirling, received options for 16,825 ordinary shares, the Chief Financial and Operations Officer, Andrew Goody, received options for 9,033 ordinary shares, and the Managing Director of Paper & Packaging, Paul Barber, received options for 2,052 ordinary shares. These awards are in respect of deferred payments from the Annual Incentive Plan for the year ended 28 March 2026, with the options exercisable from three to ten years after the award date. The value of the ordinary shares used to determine the award was 384.6p.
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James Cropper (AIM: CRPR), the Advanced Materials and Paper & Packaging group, announces that the following awards of options ("Options") were made on 2 September 2026 ("Award Date") under the James Cropper plc Deferred Bonus Share Plan 2023 ("DBSP"), to certain PDMRs over ordinary shares in the Company of 25p each ("Ordinary Shares"):
| PDMR | Position | Number of Ordinary Shares available under the Options 1 | |
|---|---|---|---|
| 1. | David Stirling | Chief Executive Officer | 16,825 |
| 2. | Andrew Goody | Chief Financial and Operations Officer | 9,033 |
| 3. | Paul Barber | Managing Director, Paper & Packaging | 2,052 |
1 Determined using a price of 384.6p per Ordinary Share, being the Company's average closing price for the 10 trading days ending on 27 July 2026, being the day immediately prior to the scheduled payment date for awards under the Annual Incentive Plan.
The Options were awarded in respect of payments due under the Company's Annual Incentive Plan ("AIP") for the year ended 28 March 2026, and in accordance with the Directors Remuneration Policy which requires payments under the AIP to be deferred for three years and satisfied in shares to the extent that these exceed 25% of base salary.
The Options were awarded for nil-cost subject to the rules of the DBSP and will be exercisable from the third anniversary of the Award Date to the tenth anniversary of the Award Date, following which they will lapse. Dividend equivalents will accrue on the Options during the deferral period and, to the extent that the Options vest, will be satisfied at the time of vesting in accordance with the rules of the DBSP.
In accordance with best practice, when granting awards and satisfying vested awards, the Remuneration Committee and the Board intends that any dilution of the Company's share capital arising through the issue of any new Ordinary Shares under all share schemes operated by the Company shall not exceed 10% in any 10-year period.
| 1. | Details of person discharging managerial responsibilities/person closely associated | |
| a) | Name | 1. David Stirling 2. Andrew Goody 3. Paul Barber |
| 2. | Reason for the notification | |
| a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer 3. Managing Director, Paper & Packaging |
| b) | Initial notification/amendment | Initial Notification |
| 3. | Details of the issuer | |
| a) | Name | James Cropper plc |
| b) | Legal Entity Identifier | 213800XM78VTDYGBRM93 |
| a) | Description of the financial instrument | Ordinary Shares of 25 pence each |
| b) | Identification code of the Financial Instrument | GB0002346053 |
| c) | Nature of the transaction | Award of nil-cost options under the Company's Deferred Bonus Share Plan 2023 |
| d) | Currency | GBP |
| e) | Price(s) and volume(s) | Price(s) Volume(s) 1. Nil-Cost 16,825 2. Nil-Cost 9,033 3. Nil-Cost 2,052 |
| f) | Aggregated information - volume - Price - Total | N/A |
| g) | Date of the transaction | 2 September 2026 |
| h) | Place of the transaction | Outside trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.